Home/Markets/ Bitcoin smashes $15000-mark in latest record as concerns mount

Bitcoin smashes $15000-mark in latest record as concerns mount

Lora Ball |Friday, December 08, 2017

Bitcoin Price Surpasses $15,000 Without Major Problems JP Buntinx

There is an agreed limit of 21 million bitcoins, therefore if they keep being created at the same rate, the limit should be reached by about the year 2140, so we still have quite a way to go yet.

Yet the dawn of futures trading has some parties on Wall Street concerned. JPMorgan Chase Jamie Dimon has called bitcoin a "fraud".

"Bitcoin as a digital currency is not quite there yet", the AME Cloud Ventures head told CNBC on the sidelines of the Fortune Global Forum in China. Morgan Stanley declined to comment.

There is mounting concerns about its introduction into the mainstream financial system after USA regulator the Commodity Futures Trading Commission last week cleared the way for Bitcoin futures to trade on major exchanges, a decision which analysts say has helped to spur the recent rally.

Peterffy noted that if bitcoin futures were trading at that time, under the CBOE's rules those futures likely would experience repeated trading halts because of limits on how high or low the price can during the trading day.

A bitcoin is often referred to as a decentralised digital currency, or for many it is more commonly known as a digital asset.

The Tokyo-based digital currency exchange is the largest in the world by trading volume and announced last week it received a "BitLicense" to operate in NY. Others say they can be helpful methods of payment, such as in crisis situations where national currencies have collapsed. "In Venezuela, after observing the rise of bitcoin, the government announced it would launch its own virtual currency called "The Petro" to get around USA sanctions." .

Online security is a vital concern for such dealings. Get twice-daily updates on what the St. Louis business community is talking about.